Non-dollar stablecoins are struggling to crack 0.5% of market share
CoinDesk
Despite growth in supply, non-dollar stablecoins remain unable to surpass a 0.5% market share, dominated by U.S. dollar-pegged tokens.Summary
Non-dollar stablecoins have seen their combined supply grow to $771 million since 2021, yet their market share has dwindled to 0.24% as U.S. dollar-pegged tokens maintain 99.76% dominance. This gap is driven by the unique ability of dollar stablecoins to utilize highly liquid U.S. Treasury debt as collateral, creating a self-reinforcing flywheel of liquidity and usage that other currencies struggle to replicate. Furthermore, the global utility of most fiat currencies remains limited, reinforcing the dollar's status as the primary choice for stablecoin issuance.
(Source：CoinDesk)